Wynn Resorts (WYNN) Q4 FY2025 earnings: revenue $1.9 billion, up 1.5% on the year
Wynn Resorts Ltd. (WYNN) reported revenue of $1.9 billion for Q4 FY2025, the quarter ended 31 December 2025, up 1.5% on the same quarter a year earlier. Net income was $100 million, down 63.9% on the year, and diluted earnings per share $0.82. The figures are the company's own, from the 10-K it filed with the SEC on 2 March 2026.
Revenue
$1.9 billion
+1.5% on the year · +1.8% on the quarter
Q1 FY2024Q4 FY2025
Operating margin
14.7%
20.0% a year earlier
Q1 FY2024Q4 FY2025
Net income
$100 million
-63.9% on the year · +13.2% on the quarter
Q1 FY2024Q4 FY2025
Diluted EPS
$0.82
-64.2% on the year · -3.5% on the quarter
Q1 FY2024Q4 FY2025
this quarterthe same quarter a year earlierHover a bar for its figure.
What management said
Guidance figures: 5 kept.
Revenue rose, net income fell: Operating revenues were $1.87 billion, up $27.2 million. Net income attributable to Wynn Resorts was $100.0 million, against $277.0 million a year earlier.
Adjusted Property EBITDAR fell $50.3 million: Adjusted Property EBITDAR was $568.8 million, against $619.1 million. The largest declines were in Las Vegas and at Wynn Palace.
Wynn Palace revenue up, EBITDAR down: Wynn Palace revenue was $596.4 million, up $33.4 million. Mass market table hold was 21.8%, against 26.0%. VIP hold was 2.84%, against 3.51% a year earlier.
$ million except per share. Read moreFourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
Q4 FY2025
Q3 FY2025
Q4 FY2024
On the quarter
On the year
Last 8 quarters
Operating cash flow
478
336
479
+42.4%
-0.2%
Capital expenditure
171
164
127
+4.4%
+34.6%
Free cash flow
307
172
352
+78.5%
-12.8%
Free cash flow margin
16.4%
9.4%
19.1%
Cash from investing
-457
-744
-210
Cash from financing
-42.0
-95.3
-1,456
Depreciation and amortisation
159
153
151
+4.4%
+5.4%
Share-based compensation
21.0
22.7
14.8
-7.2%
+41.8%
Buybacks
0.4
2.0
204
-77.8%
-99.8%
Dividends paid
25.8
60.6
27.5
-57.4%
-6.2%
Dividend per share
$0.25
$0.25
$0.25
0.0%
0.0%
Diluted shares, weighted
n/a
104m
n/a
Shares outstanding at period end
104m
104m
108m
+0.0%
-3.6%
Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.
Balance sheet
$ million
Q4 FY2025
Q3 FY2025
Q4 FY2024
On the quarter
On the year
Last 8 quarters
Shareholders' equity
-275
-370
-224
Non-controlling interest
-756
-771
-744
Debt
10,547
10,568
10,542
-0.2%
+0.0%
Operating lease liabilities
1,629
1,628
1,624
+0.1%
+0.3%
Finance lease liabilities
73.7
n/a
71.6
+3.0%
Other liabilities
1,890
1,747
1,709
+8.1%
+10.6%
Total liabilities and equity
13,108
12,802
12,978
+2.4%
+1.0%
Fixed assets
6,626
6,579
6,521
+0.7%
+1.6%
Goodwill
n/a
n/a
18.5
Intangible assets
224
232
255
-3.2%
-11.9%
Cash and equivalents
1,463
1,486
2,426
-1.5%
-39.7%
Receivables
403
353
324
+14.2%
+24.3%
Inventory
88.5
87.8
75.8
+0.7%
+16.8%
Other assets
4,303
4,064
3,358
+5.9%
+28.2%
Total assets
13,108
12,802
12,978
+2.4%
+1.0%
Questions
What was Wynn Resorts' revenue in Q4 FY2025?
Wynn Resorts (WYNN) reported revenue of $1.9 billion for Q4 FY2025, the quarter ended 31 December 2025, up 1.5% on the same quarter a year earlier.
How much did Wynn Resorts earn in Q4 FY2025?
Net income for Q4 FY2025 was $100 million, down 63.9% on the year, and diluted earnings per share $0.82.
When did Wynn Resorts report Q4 FY2025 results?
Wynn Resorts filed its 10-K for the year that ended with the quarter on 2 March 2026; the fourth quarter is the year less the first three.
Each quarter as filed, linked to its filing. Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.
10-K for the period ended 31 December 2025, filed 2 March 2026: the filing.